Duke Energy Progress utility bonds.
2% of the bond amount.

The bond Duke Energy Progress LLC accepts in place of a cash security deposit when you open, transfer, or reinstate electric service in its South Carolina territory, which runs along the coast around Horry and Georgetown counties. Duke Energy Progress sets the deposit amount on your account; pricing is 2% of the bond amount, $100 minimum — enter the figure from your account notice at the application to see your exact price.

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Accepted by Duke Energy Progress customer accounts in lieu of a cash security deposit

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Amount set by the utility — typically tied to your estimated monthly billing

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2% of the bond amount, $100 minimum — your exact price appears at the application

2% of amount, $100 mincheckout-verifiedInstantapproval for mostSoft pull onlynever a hard inquiry

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How it works

Apply to filed in one sitting.

No underwriting queue for the standard security deposit bond — enter your amount, pay, and file with Duke Energy Progress. Here is the whole thing:

TODAY · ONLINE

Apply online

Your details, the deposit amount Duke Energy Progress required, your county, and the effective date — that is the entire application.

INSTANTLY

Issued on the spot

The application collects no credit information, and most applications approve instantly — the executed bond is generated as soon as you pay. If a check ever runs on a larger amount, it is a soft pull that will not affect your score.

SAME DAY

File with Duke Energy Progress

Submit the executed bond to Duke Energy Progress customer accounts in place of your cash deposit. Wet-ink originals mailed on request.

About this bond

What it is and who needs it.

What the utility deposit bond does

Duke Energy Progress LLC is an investor-owned electric utility that serves a coastal slice of South Carolina, including the Grand Strand around Myrtle Beach, alongside its larger North Carolina service territory. It collects a deposit to secure the bills a new or higher-risk account will run up before it establishes a payment history — but a surety bond can stand in for that cash.

It is a three-party arrangement: you (the principal), the surety, and Duke Energy Progress (the obligee). If your account carries an unpaid balance when service ends, the utility can recover against the bond up to its face amount instead of drawing down a cash deposit.

It is not insurance for you — if the surety pays a claim, you repay the surety. Customers who keep their accounts current typically use the bond to free up the cash a deposit would otherwise tie up. We issue the amount the utility sets on your account; pricing is 2% of the bond amount, $100 minimum, and the application collects no credit information.

Duke Energy Progress deposit requirementDuke Energy Progress LLC is a South Carolina Public Service Commission-jurisdictional electric utility; as a regulated utility it administers customer deposits under its Commission-approved rules and tariffs, and its customer accounts department sets the deposit amount and accepts a surety bond as an alternative to cash. We have not independently verified a specific Commission docket or tariff section governing deposits, so we do not cite one here — confirm the exact deposit figure and any bond-form requirements directly with Duke Energy Progress before applying.

You need this bond if you are

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Opening a new account with Duke Energy Progress and asked for a security deposit

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Reinstating service after a disconnection that triggered a new deposit requirement

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Replacing a cash deposit already on file to free up the capital

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A business or landlord account the utility rates as higher-usage or higher-risk

One application, issued on the spot.

Submit the application with the deposit amount Duke Energy Progress required — the executed bond is generated instantly, ready to file.

Start the application →

FAQ

Common questions.

How much is the Duke Energy Progress utility deposit bond?Pricing is 2% of the bond amount, $100 minimum. The amount itself is the deposit Duke Energy Progress set on your account — typically tied to your estimated billing. Enter that figure at the application to see your exact price.

What amount should I enter?Use the deposit figure Duke Energy Progress gave you on your account notice. If you're unsure, call the utility's customer service line and we'll issue whatever amount they name.

Does Duke Energy Progress serve my part of South Carolina?Duke Energy Progress serves a coastal South Carolina territory centered on Horry and Georgetown counties, including Myrtle Beach. Most of the rest of the state is served by other utilities or cooperatives — check your bill for the utility name if you are unsure.

What does the bond guarantee?It guarantees the deposit the utility would otherwise hold in cash — that any unpaid balance on your account when service ends can be recovered against the bond, up to its face amount. It backstops the utility's risk, not yours.

Is there a credit check?The application collects no credit information, and most applications approve instantly. If a check ever runs, it is a soft pull that never affects your credit score.

Related bonds

Other South Carolina bonds.

Duke Energy Progress deposit bond, issued today.

Pricing at 2% of the bond amount, $100 minimum. Enter the deposit the utility required and file the same day.

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